Multiple Offers - How Do You Decide How Much To Offer?





You’ve heard all the hysteria - your friend’s neighbor made 7 offers before they finally got one accepted. Whoa! That’s a roller coaster of waiting and despair on repeat. But honestly, that doesn’t have to be you!

Never go into a multiple-offer situation with this mindset: “But what if I overpay??” I’m sorry to say... but this is about WINNING! Well not exactly, but it is about getting your offer accepted on your dream house. First, you should truly take a moment to consider how much you love this house. If you love it and you can’t imagine living in any other house, then you have to go all in. You’ll regret it later if you don’t.

So what is the offer price that will beat out all of the other offers? First consider the big picture. If your agent says buyers are typically offering $100-$200k over asking in this price range, you know other agents are telling their buyers the same thing. So that sets the scene.

If your agent tells you there are 25 disclosure packages out, then maybe half of those buyers will make offers. So if the house is priced at $1,100,000, you can probably bet the best offer won’t be $1,110,000. Buyers are most likely being told they have to go at least $100k over asking to even be in the running.

Next, check out the comparable sold properties in the area. If you see a house that’s a little nicer and a little more updated listed at $1,400,000, then you can assume it’s okay for your pocketbook to maybe offer up to $1,300,000.

At the end of the day, it’s all a guessing game. How far into the wild wild West are you willing to venture? Just remember you don’t want to have any regrets. If your payment would only be $50 higher per month, maybe it’s worth offering a bit more! Offer your highest and best, and if someone beats you out, you’ll be able to move on feeling relieved that you didn’t break the bank.



Thorne Home Team
Naomi Thorne & Katherine Thorne
Coldwell Banker Realty
511 Sir Francis Drake Blvd
Greenbrae, CA 94904
415.559.5280
naomi.thorne@cbnorcal.com
katherine.thorne@cbnorcal.com
hometeammarin.com


Location: Greenbrae, Kentfield, CA, USA

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